Bond and C.O. Sale Moves Forward
This week the City Council received and accepted the final pricing for the sale of General Obligation bonds and Certificates of Obligation and passed two ordinances allowing the issuance of both. The bonds and C.O.s have low interest rates (2.78 percent and 2.58 percent respectively), a benefit of the City’s recent “Triple A” reaccreditation from both Moody’s and Standard & Poor’s credit rating agencies.
The sale will provide $17.4 million in funds for projects approved by voters in the 2015 Bond Program and $32 million for the City’s Capital Improvement Plan, which includes water and sewer infrastructure improvements, emergency services equipment, information technology equipment, streets, park trails and public facilities including the Public Safety Campus and Fire Station 3.To view a presentation about the sale given at Monday’s work session, visit http://richardsontx.swagit.com/e/03252019-986/3/